The Ethereum layer-2 project MegaETH is taking a unique approach by introducing a non-fungible token (NFT) collection named The Fluffle, opting out of the typical airdrop method.
The Fluffle Collection by MegaETH
The 10,000 NFTs represent 5% of the MegaETH network and are soulbound, meaning they cannot be transferred. The sale will occur in two installments, with the first directed at over 80,000 whitelisted addresses, each priced at 1 Ether. MegaETH claims this approach avoids complex KYC processes while maintaining identity integrity.
Testnet and Support
The MegaETH project has been eagerly awaited due to its promised performance of 100,000 transactions per second. Its supporters include Ethereum co-founders Vitalik Buterin and Joe Lubin. According to MegaETH co-founder Yilong Yi, the public testnet is set to launch in early March.
NFT Market Trends
MegaETH's NFT plans emerge as the sector is losing interest. Since April 2024, secondary sales haven't exceeded the $1 billion mark across blockchains. Despite challenges, the potential remains significant.
MegaETH takes a step away from the traditional airdrop model, opting for NFTs to offer network stakes. Amidst a waning interest in the NFT market, their unique approach may capture the attention of crypto market participants.
